Switzerland is a landlocked country in Central Europe. Neighboring countries include Austria, France, Italy, Liechtenstein, and Germany. The geography of Switzerland is mostly mountains (Alps in south, Jura in northwest) with a central plateau of rolling hills, plains, and large lakes. The government system is formally a confederation but similar in structure to a federal republic; the chief of state and head of government is the president. Switzerland has a modern market economyA situation in which businesses operate in a free market, i.... in which the prices of goods and services are determined in a free priceThe amount of money required to purchase something or to bri... system. Switzerland is a member of the European Free TradeThe buying and selling or exchange of goods and services. Th... Association (EFTA).
The Swiss have brought their economic practices largely into conformity with the EU’s to enhance their international competitiveness, but some tradeThe buying and selling or exchange of goods and services. Th... protectionismThe policy of a country protecting its own industries agains... remains, particularly for its small agricultural sector. The fate of the Swiss economyThe management of money, currency and trade of a nation. The... is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economyThe management of money, currency and trade of a nation. The..., as well as to prevent appreciation of the franc, and Switzerland’s economyThe management of money, currency and trade of a nation. The... began to recover in 2010.
The sovereign debtMoney owed to another person or organisation, such as a loan... crises unfolding in neighboring euro-zone countries, however, coupled with ongoing economic instability in Russia and other eastern European economies continue to pose a significant riskIn business, especially insurance, the amount of money a com... to the Swiss economyThe management of money, currency and trade of a nation. The..., driving up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero interest rateA fee which is charged for borrowing money, e.g., a loan fro... policy and conducted major marketThe commercial activity of buying and selling goods and serv... interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc’s strength has made Swiss exports less competitive and weakened the country’s growth outlook; GDP growth fell below 2% per year from 2011-15.
Important Details
- Country ISO3 : CHE
- Country Code : 756
- Income Group : High income
- Lending Category : P2PPeer-to-peer is a model for computer connectivity and file-
- Region : Europe & Central Asia
- Currency Unit: Swiss franc
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : EFTA, WTO and OECD
- world rank : 4
- Regional Ranking : 1st in Europe
